DCM Shriram Industries Q4 profit rises 23% to Rs 38.64 crore

DCM Shriram Industries on Monday posted a 23 per cent rise in consolidated net profit at Rs 38.64 crore for the fourth quarter of the 2023-24 fiscal from a year earlier, on lower expenses.

The company, which is into sugar, industrial fibre and chemicals business, had reported a net profit of Rs 31.53 crore in the same quarter of the previous fiscal, according to a regulatory filing.

Total income declined to Rs 516.61 crore during January-March quarter of the 2023-24 fiscal from Rs 541.58 crore in a year earlier. Expenses, however, remained lower at Rs 461.75 crore as against Rs 493.60 crore in the said period. For the full fiscal year 2023-24, DCM Shriram Industries posted a 92 per cent jump in consolidated net profit to Rs 115.39 crore, compared with Rs 60.16 crore in the previous fiscal year.

The company's board did not recommend a final dividend in view of the need for conservation of resources for debt servicing and expected capital expenditure.